CRYPTO NEWS

Voyager Digital seals $200M and 15,000 BTC loan deal from Alameda Research

Voyager Digital has secured a loan facility agreement with Alameda Research, in a deal that the brokerage platform says will help it better protect its customer assets amid the current market conditions.

$200 million in cash/USDC and 15,000 BTC

Voyager announced on Friday that it had sealed “a non-binding term sheet” with trading firm Alameda Research, securing a revolving line of credit that offers access to fresh capital should it be needed.

According to the company, the loan facility will be used to provide a safety net around customer assets as the market navigates the current volatility.

The credit facility comes in two parts, with the first being a $200 million loan agreement denominated in cash or the USDC stablecoin. In addition to that, Voyager and Alameda have agreed on a further 15,000 Bitcoin (BTC) credit facility. 

The two facilities’ term expires on December 31, 2024 and will attract an annual interest of 5% to be paid on maturity.

Voyager is “well capitalized”

Turbulence in the crypto markets has had a drastic impact on companies and projects, with the recent upheavals for Celsius and 3AC pointing to potential contagion. 

In light of this, the Voyager team provided an asset and risk management update earlier in the week, seeking to assure its customers that all was well.

Apart from stating that it had no assets with Celsius, Voyager CEO and co-founder Steve Ehrlich noted:

The company is well capitalized and in a good position to weather this market cycle and protect customer assets. It is Voyager’s goal to continue to build secure products and services, as well as build trust and leadership in the cryptocurrency industry.”

The company has over $200 million on its balance sheet, it said on Friday.

The post Voyager Digital seals $200M and 15,000 BTC loan deal from Alameda Research appeared first on CoinJournal.

Rap Star Snoop Dogg Believes Crypto Industry Will Bounce Back — Crash ‘Weeded’ Out Bad Apples

This week, the rapper Snoop Dogg spoke about the crypto crash in an interview with CNBC on Tuesday and explained that he believes the cryptocurrency economy will bounce back. Snoop said that he feels like the crash “‘weeded’ out all of the people” that were not supposed to be in the space in the first::Listen

This week, the rapper Snoop Dogg spoke about the crypto crash in an interview with CNBC on Tuesday and explained that he believes the cryptocurrency economy will bounce back. Snoop said that he feels like the crash “‘weeded’ out all of the people” that were not supposed to be in the space in the first place.

Snoop Says Crypto Crash Is Transitory and Great Choices Will Follow the Aftermath

Snoop Dogg thinks the current crypto crash is temporary and in time he believes the ecosystem will bounce back. Speaking with CNBC on Tuesday, the hip-hop recording artist discussed his current perspective on non-fungible tokens (NFTs) and cryptocurrencies.

While talking about NFTs, Snoop said that what drew him toward the digital collectibles space was the intellectual property (IP) ideas and “being able to own and control the whole IP and not be used as a face or marketing tool … but to actually be the owner, the CEO.”

When Snoop was questioned about the current crypto market drawdown, he responded by saying that he doesn’t think it will last long.

“It’s crypto… It’s crypto, you know that right?” Snoop jokingly asked the CNBC reporter. “I feel like it was a beautiful industry that was created. I feel like every great industry has a downfall, there’s always a depression in every industry you could look at. Alcohol, tobacco, clothing, and food,” the rapper added.

Snoop continued by remarking that he thinks the crash is ridding the industry of bad apples. The recording artist and entrepreneur stressed:

I just feel like this ‘weeded’ out all of the people that wasn’t supposed to be in that space and all the people who were abusing the opportunities that were there. Now its going to bring great business, and moving forward the market will have great things to pick and choose from.

Hip-Hop Recording Artist Has Been Into Bitcoin Since 2013, Snoop Says Music Labels Will Have to Come to the Table When It Comes to NFTs

Snoop not only is an early rap star in the music world, selling 35 million albums worldwide, he’s also been into the digital currency space for a very long time. The hip-hop artist was one of the first rappers to accept bitcoin (BTC) for payment toward one of his studio albums.

Rap Star Snoop Dogg Believes Crypto Industry Will Bounce Back — Crash 'Weeded’ Out Bad Apples

In 2013, after releasing his 12th record under the reggae persona “Snoop Lion,” Snoop explained that he wanted to accept BTC for payments for his next album. “My next record available in bitcoin n delivered in a drone,” the rapper tweeted at the time. When Snoop tweeted about his interest in accepting BTC, the crypto firms Bitpay and Coinbase responded to the recording artist.

“Hey Snoop Dogg. We can help you with that,” the Atlanta-based Bitpay replied to the musician. “We could make the bitcoin part a reality for you,” Coinbase told Snoop as well.

The musician responded to both companies and remarked that if they direct messaged him, he wanted to make it happen. No one is exactly sure how many albums the rapper sold for BTC, although, one bitcoin address (from Snoop’s old QR code) suggests the rapper only got around 0.01245982 before abandoning the idea.

During his interview on Tuesday, Snoop was asked about his interest in NFTs and he said that he knows NFTs will be big in the music industry because sooner or later the labels will have to jump in. “[The labels] are gonna have to come on home. They are going to have to sit at the table and understand that their catalogs and things that they hold onto are better served on the blockchain, [rather] than sitting in the catalog collecting cobwebs” Snoop said.

While Snoop’s label Death Row Records embraced NFTs, the rapper was asked if other music labels have come to Snoop for crypto advice. “All of them,” Snoop claimed and the Web3 entrepreneur known as Champ Medici also responded and said it wasn’t just music labels. “Movie studios, tech companies, beverage companies, everybody is rushing to Web3,” Medici told the CNBC reporter.

What do you think about the rap star Snoop Dogg’s opinion on the cryptocurrency space and NFTs? Let us know what you think about this subject in the comments section below.

Voyager Digital seals $200M and 15,000 BTC loan deal from Alameda Research

Shopping cart
There are no products in the cart!
Continue shopping
0